{"id":51639,"date":"2026-07-10T10:03:29","date_gmt":"2026-07-10T10:03:29","guid":{"rendered":"https:\/\/www.vtmarkets.com\/zh\/uncategorized\/51639\/"},"modified":"2026-07-10T10:03:29","modified_gmt":"2026-07-10T10:03:29","slug":"%e5%8a%a0%e5%af%86%e8%b2%a8%e5%b9%a3%e6%96%b0%e7%af%87%e7%ab%a0%e6%ad%a3%e7%94%b1%e9%8a%80%e8%a1%8c%e6%92%b0%e5%af%ab","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/zh\/featured\/51639\/","title":{"rendered":"\u52a0\u5bc6\u8ca8\u5e63\u65b0\u7bc7\u7ae0\u6b63\u7531\u9280\u884c\u64b0\u5beb"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2026\/07\/BankbecomesBTC-1024x573.webp\" alt=\"\u7c89\u5f693D\u63d2\u756b\uff1a\u9280\u884c\u5927\u6a13\u4e0a\u65b9\u6f02\u6d6e\u786c\u5e63\uff0c\u8c61\u5fb5\u52a0\u5bc6\u8ca8\u5e63\u9280\u884c\u670d\u52d9\u53ca\u5132\u84c4\u3002\" class=\"wp-image-61592\"\/><figcaption class=\"wp-element-caption\">\u9280\u884c\u9ad4\u7cfb\u6b63\u5438\u7d0d\u52a0\u5bc6\u8ca8\u5e63<\/figcaption><\/figure>\n\n\n\n<p>\u7f8e\u570b\u570b\u6703\u4ecd\u5728\u722d\u62d7\u7531\u8ab0\u70ba\u52a0\u5bc6\u8ca8\u5e63\u8a02\u898f\u77e9\uff1b\u4f46\u6700\u53d7\u898f\u5247\u5f71\u97ff\u7684\u6a5f\u69cb\uff0c\u5df2\u958b\u59cb\u70ba\u672a\u4f86\u5408\u898f\uff08\u5373\u53d7\u76e3\u7ba1\uff09\u904b\u4f5c\u7684\u5236\u5ea6\u6253\u5730\u57fa\u3002<\/p>\n\n\n\n<p>\u9019\u5927\u81f4\u662f2026\u5e747\u6708\u7f8e\u570b\u52a0\u5bc6\u653f\u7b56\u7684\u73fe\u6cc1\u3002\u300aCLARITY\u6cd5\u6848\u300b\uff08\u5168\u540d\u300a\u6578\u78bc\u8cc7\u7522\u5e02\u5834\u6e05\u6670\u6cd5\u6848\u300b\uff0c\u76ee\u6a19\u662f\u91d0\u6e05\u6578\u78bc\u8cc7\u7522\u5e02\u5834\u67b6\u69cb\u8207\u76e3\u7ba1\u5206\u5de5\uff09\u539f\u672c\u7528\u4f86\u5b9a\u8abf\uff1b\u7d50\u679c\u88ab\u57f7\u6cd5\u6182\u616e\u3001\u653f\u6cbb\u722d\u8b70\uff0c\u4ee5\u53ca\u300c\u7a69\u5b9a\u5e63\u6536\u76ca\u300d\u62c9\u92f8\u5361\u4f4f\u3002<\/p>\n\n\n\n<p>\u9280\u884c\u6b63\u7814\u767c\u300c\u4ee3\u5e63\u5316\u5b58\u6b3e\u300d\uff08\u628a\u9280\u884c\u5b58\u6b3e\u7528\u5340\u584a\u93c8\u4e0a\u7684\u4ee3\u5e63\u5f62\u5f0f\u8868\u793a\uff0c\u4ecd\u5c6c\u9280\u884c\u9ad4\u7cfb\u5167\u8cc7\u91d1\uff09\uff0c\u52a0\u5bc6\u516c\u53f8\u5247\u8d8a\u8d70\u8d8a\u8fd1\u50b3\u7d71\u53d7\u76e3\u7ba1\u91d1\u878d\u6a5f\u69cb\u3002\u300c\u7a69\u5b9a\u5e63\u300d\uff08\u8207\u7f8e\u5143\u7b49\u6cd5\u5b9a\u8ca8\u5e63\u639b\u920e\u3001\u529b\u6c42\u50f9\u683c\u7a69\u5b9a\u7684\u6578\u78bc\u4ee3\u5e63\uff09\u767c\u884c\u5546\u4ea6\u5e0c\u671b\u300c\u5165\u5834\u300d\u800c\u975e\u7f6e\u8eab\u9ad4\u7cfb\u5916\u3002\u7f8e\u570b\u5927\u578b\u9280\u884c\u8207\u6700\u5927\u7a69\u5b9a\u5e63\u767c\u884c\u5546\uff0c\u6b63\u4f4e\u8abf\u642d\u5efa\u5169\u5957\u91dd\u5c0d\u540c\u4e00\u7b46\u8cc7\u91d1\u7684\u652f\u4ed8\u300c\u8ecc\u9053\u300d\uff08payment rails\uff1a\u652f\u4ed8\u6e05\u7b97\u901a\u9053\/\u7db2\u7d61\uff09\uff0c\u5404\u81ea\u62bc\u6ce8\u300c\u8ab0\u638c\u63e1\u5ba2\u6236\u95dc\u4fc2\uff0c\u8ab0\u5c31\u8d0f\u300d\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u300aCLARITY\u6cd5\u6848\u300b\u518d\u5ea6\u5ef6\u5f8c<\/h2>\n\n\n\n<p>\u300a\u6578\u78bc\u8cc7\u7522\u5e02\u5834\u6e05\u6670\u6cd5\u6848\u300b\uff08CLARITY Act\uff09\u65e9\u57282025\u5e747\u6708\u65bc\u773e\u8b70\u9662\u4ee5294\u7968\u5c0d134\u7968\u5927\u6bd4\u6578\u901a\u904e\u3002\u53c3\u8b70\u9662\u9280\u884c\u59d4\u54e1\u6703\u65bc5\u6708\u63a8\u9032\u5be9\u8b70\uff1b\u52306\u6708\u521d\u5df2\u5217\u5165\u53c3\u8b70\u9662\u8b70\u7a0b\uff0c\u6280\u8853\u4e0a\u53ef\u5b89\u6392\u5168\u9662\u8868\u6c7a\u3002<\/p>\n\n\n\n<p>\u4f46\u4e4b\u5f8c\u4e00\u76f4\u505c\u64fa\u3002\u767d\u5bae\u66fe\u975e\u6b63\u5f0f\u4ee57\u67084\u65e5\u7c3d\u7f72\u70ba\u76ee\u6a19\uff0c\u8a72\u671f\u9650\u5df2<a href=\"https:\/\/finance.yahoo.com\/markets\/crypto\/articles\/clarity-act-stalls-senate-three-100403007.html\">\u5728\u6c92\u6709\u8868\u6c7a\u3001\u6c92\u6709\u52d5\u975c\u4e0b\u904e\u53bb<\/a>\u3002\u9810\u6e2c\u5e02\u5834\uff08prediction markets\uff1a\u4ee5\u8cb7\u8ce3\u5408\u7d04\u53cd\u6620\u4e8b\u4ef6\u767c\u751f\u6a5f\u7387\u7684\u5e73\u53f0\uff09\u66fe\u57282\u6708\u628a\u6cd5\u6848\u901a\u904e\u6a5f\u7387\u5b9a\u50f9\u70ba82%\uff0c\u73fe\u5df2\u8dcc\u81f3\u7d0442%\u81f350%\u3002<\/p>\n\n\n\n<p>\u62d6\u5ef6\u4e3b\u56e0\u6709\u4e09\u9805\uff1a<\/p>\n\n\n\n<ol start=\"1\" class=\"wp-block-list\">\n<li><strong>\u57f7\u6cd5\u7591\u616e<\/strong>\uff1a\u5c0d\u958b\u767c\u8005\u63d0\u4f9b\u66f4\u5927\u4fdd\u969c\uff0c\u6216\u4ee4\u52a0\u5bc6\u72af\u7f6a\u8abf\u67e5\u66f4\u56f0\u96e3\u3002<\/li>\n\n\n\n<li><strong>\u653f\u6cbb\u8207\u64cd\u5b88\u722d\u8b70<\/strong>\uff1a\u62ab\u9732\u8207\u7279\u6717\u666e\u7e3d\u7d71\u76f8\u95dc\u3001\u8d85\u904e<a href=\"https:\/\/www.cnn.com\/2026\/07\/02\/business\/trump-memecoin-crypto-gains\">10\u5104\u7f8e\u5143\u7684\u52a0\u5bc6\u76f8\u95dc\u6536\u5165<\/a>\uff0c\u4ee4\u8ac7\u5224\u8207\u8de8\u9ee8\u652f\u6301\u66f4\u8907\u96dc\u3002<\/li>\n\n\n\n<li><strong>\u7a69\u5b9a\u5e63\u898f\u5247<\/strong>\uff1a\u5e73\u53f0\u61c9\u5426\u53ef\u63d0\u4f9b\u985e\u4f3c\u300c\u5229\u606f\u300d\u7684\u56de\u5831\uff08yield\uff09\u3002<\/li>\n<\/ol>\n\n\n\n<p>\u5171\u548c\u9ee8\u5728\u53c3\u8b70\u9662\u670953\u5e2d\uff0c\u4ecd\u9700\u6700\u5c117\u540d\u6c11\u4e3b\u9ee8\u53c3\u8b70\u54e1\u652f\u6301\u624d\u80fd\u63a8\u9032\u3002\u96d9\u65b9\u7acb\u5834\u672a\u898b\u9b06\u52d5\u3002\u4e0b\u4e00\u500b\u95dc\u9375\u6642\u9593\u9ede\u662f\u53c3\u8b70\u96628\u6708\u4f11\u6703\uff1b\u82e5\u518d\u932f\u904e\uff0c\u4eca\u5e74\u901a\u904e\u6a5f\u6703\u6703\u4e0b\u964d\uff0c\u56e0\u5176\u5f8c\u8b70\u7a0b\u5f88\u5feb\u88ab\u5176\u4ed6\u512a\u5148\u4e8b\u9805\u585e\u6eff\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u6838\u5fc3\u722d\u62d7\uff1a\u7a69\u5b9a\u5e63\u300c\u6536\u76ca\u300d<\/h2>\n\n\n\n<p>\u6700\u91cd\u8981\u7684\u5206\u6b67\uff0c\u4e26\u975e\u52a0\u5bc6\u8ca8\u5e63\u662f\u5426\u5408\u6cd5\u30022025\u5e74\u914d\u5957\u7684\u300aGENIUS\u6cd5\u6848\u300b\u5df2\u7981\u6b62\u7a69\u5b9a\u5e63\u767c\u884c\u5546\u76f4\u63a5\u5411\u6301\u6709\u4eba\u652f\u4ed8\u5229\u606f\uff08interest\uff1a\u6309\u5b58\u6b3e\u6216\u501f\u8cb8\u8a08\u7b97\u7684\u5229\u9322\uff09\u3002<\/p>\n\n\n\n<p>\u9280\u884c\u3001\u52a0\u5bc6\u516c\u53f8\u8207\u7acb\u6cd5\u8005\u90fd\u8aaa\u60f3\u8981\u66f4\u6e05\u6670\u898f\u5247\u3002\u9280\u884c\u64d4\u5fc3\u300aCLARITY\u6cd5\u6848\u300b\u7559\u4e0b\u7a7a\u9593\uff0c\u8b93\u4ea4\u6613\u6240\u8207\u5e73\u53f0\u7528\u300c\u734e\u52f5\u300d\u7b49\u540d\u76ee\u63d0\u4f9b\u5be6\u8cea\u4e0a\u8fd1\u4f3c\u5229\u606f\u7684\u56de\u5831\uff0c\u537b\u4e0d\u7a31\u70ba\u5229\u606f\u3002<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>\u6301\u4efd\u8005<\/th><th>\u4ed6\u5011\u60f3\u8981\u4ec0\u9ebc<\/th><th>\u70ba\u4f55\u91cd\u8981<\/th><\/tr><\/thead><tbody><tr><td><strong>\u9280\u884c<\/strong><\/td><td>\u628a\u5b58\u6b3e\u7559\u5728\u9280\u884c\u9ad4\u7cfb\u5167<\/td><td>\u5b58\u6b3e\u662f\u653e\u8cb8\u3001\u652f\u4ed8\u53ca\u76c8\u5229\u7684\u8cc7\u91d1\u4f86\u6e90\u3002<\/td><\/tr><tr><td><strong>\u52a0\u5bc6\u5e73\u53f0<\/strong><\/td><td>\u5bb9\u8a31\u7a69\u5b9a\u5e63\u63d0\u4f9b\u985e\u4f3c\u6536\u76ca\u7684\u734e\u52f5<\/td><td>\u5438\u5f15\u7528\u6236\uff0c\u64f4\u5927\u6578\u78bc\u652f\u4ed8\u751f\u614b\u3002<\/td><\/tr><tr><td><strong>\u7acb\u6cd5\u8005<\/strong><\/td><td>\u8a02\u7acb\u6e05\u6670\u898f\u5247\uff0c\u540c\u6642\u907f\u514d\u76e3\u7ba1\u6f0f\u6d1e\uff08loopholes\uff1a\u53ef\u88ab\u947d\u7a7a\u7684\u7070\u8272\u5730\u5e36\uff09<\/td><td>\u5728\u5275\u65b0\u3001\u6295\u8cc7\u8005\/\u6d88\u8cbb\u8005\u4fdd\u969c\u8207\u91d1\u878d\u7a69\u5b9a\u4e4b\u9593\u53d6\u5e73\u8861\u3002<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Coinbase\u76ee\u524d\u6bcf\u5e74\u7d04\u6709<a href=\"https:\/\/www.tradingview.com\/news\/cointelegraph:6b3e5e9e0094b:0-coinbase-usdc-revenue-may-multiply-7x-as-payments-grow-bloomberg-says\/\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">13.5\u5104\u7f8e\u5143USDC\u734e\u52f5\u6536\u5165<\/a>\u3002\u7f8e\u570b\u9280\u884c\u5bb6\u5354\u6703\u8a8d\u70ba\uff0c\u9019\u7b49\u540c\u70ba\u8cc7\u91d1\u7531\u50b3\u7d71\u9280\u884c\u6236\u53e3\u8f49\u79fb\u81f3\u53ef\u63d0\u4f9b\u56de\u5831\u7684\u7a69\u5b9a\u5e63\u9322\u5305\uff0c\u958b\u4e86\u4e00\u689d\u8def\u3002<\/p>\n\n\n\n<p>\u52a0\u5bc6\u5e73\u53f0\u5247\u8a8d\u70ba\uff0c\u76f8\u95dc\u9650\u5236\u66f4\u50cf\u662f\u4fdd\u8b77\u9280\u884c\u514d\u53d7\u7af6\u722d\uff0c\u800c\u975e\u4fdd\u8b77\u6d88\u8cbb\u8005\u3002<\/p>\n\n\n\n<p>\u7576\u7a69\u5b9a\u5e63\u6108\u4f86\u6108\u50cf\u53e6\u4e00\u7a2e\u300c\u73fe\u91d1\u7ba1\u7406\u300d\uff08cash management\uff1a\u628a\u8cc7\u91d1\u653e\u5728\u53ef\u96a8\u6642\u52d5\u7528\u3001\u540c\u6642\u722d\u53d6\u56de\u5831\u7684\u4f4d\u7f6e\uff09\uff0c\u591a\u6578\u5ba2\u6236\u672a\u5fc5\u5728\u610f\u56de\u5831\u53eb\u5229\u606f\u3001\u734e\u52f5\u6216\u512a\u60e0\uff1b\u91cd\u9ede\u662f\u8cc7\u91d1\u4fdd\u6301\u6d41\u52d5\u6027\uff08liquid\uff1a\u53ef\u5feb\u901f\u514c\u73fe\/\u63d0\u53d6\uff09\uff0c\u540c\u6642\u5728\u80cc\u5f8c\u8cfa\u53d6\u4e00\u5b9a\u56de\u5831\u3002<\/p>\n\n\n\n<p>\u9019\u4ee4\u7af6\u722d\u8b8a\u5f97\u76f4\u63a5\uff1a\u539f\u672c\u7559\u5728\u5f80\u4f86\u6236\u53e3\u7684\u8cc7\u91d1\uff0c\u73fe\u53ef\u8f49\u53bb\u7a69\u5b9a\u5e63\u9322\u5305\u3002\u95dc\u9375\u662f\u7531\u8ab0\u63d0\u4f9b\u5438\u5f15\u8cc7\u91d1\u7684\u56de\u5831\u3002<\/p>\n\n\n\n<p>\u5c0d\u9280\u884c\u800c\u8a00\uff0c\u9019\u4e0d\u662f\u5c0f\u7522\u54c1\u554f\u984c\uff0c\u800c\u662f\u5b58\u6b3e\u57fa\u790e\uff08deposit base\uff1a\u9280\u884c\u53ef\u7528\u4f5c\u653e\u8cb8\u548c\u6295\u8cc7\u7684\u4e3b\u8981\u8cc7\u91d1\u6c60\uff09\u50f9\u503c\u3002\u82e5\u7a69\u5b9a\u5e63\u9322\u5305\u5728\u4e0d\u6539\u8b8a\u7528\u6cd5\u4e0b\u4e5f\u80fd\u63d0\u4f9b\u56de\u5831\uff0c\u5ba2\u6236\u4fbf\u6709\u8a98\u56e0\u628a\u9322\u7531\u4e00\u822c\u9280\u884c\u6236\u53e3\u8f49\u51fa\u53bb\u3002<\/p>\n\n\n\n<p><\/p>\n\n\n\n<pre class=\"wp-block-code\"><code><strong>\u4e00\u53e5\u8b1b\u6e05\u722d\u62d7<\/strong>\n\u9280\u884c\u60f3\u7528\u5340\u584a\u93c8\u6280\u8853\uff0c\u4f46\u4e0d\u60f3\u5931\u53bb\u5b58\u6b3e\u3002\n\u52a0\u5bc6\u516c\u53f8\u60f3\u8b93\u5b58\u6b3e\u81ea\u7531\u6d41\u52d5\uff0c\u53ea\u8981\u5ba2\u6236\u53ef\u4ee5\u62ff\u5230\u66f4\u9ad8\u56de\u5831\u3002\n<\/code><\/pre>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>\u9280\u884c\u81ea\u5efa\u300c\u7b54\u6848\u300d<\/strong><\/h3>\n\n\n\n<p>\u9280\u884c\u672a\u6709\u7b49\u570b\u6703\u5283\u6e05\u754c\u7dda\u624d\u884c\u52d5\u3002<\/p>\n\n\n\n<p>\u6469\u6839\u5927\u901a\uff08JPMorgan\uff09\u3001\u82b1\u65d7\uff08Citi\uff09\u3001\u7f8e\u570b\u9280\u884c\uff08Bank of America\uff09\u3001\u5bcc\u570b\u9280\u884c\uff08Wells Fargo\uff09\u53ca\u5341\u591a\u5bb6\u9280\u884c\uff0c\u6b63\u900f\u904eThe Clearing House\uff08\u7531\u9280\u884c\u6301\u6709\u7684\u652f\u4ed8\u6e05\u7b97\u6a5f\u69cb\uff09\u5171\u540c\u5efa\u7acb\u300c\u4ee3\u5e63\u5316\u5b58\u6b3e\u7db2\u7d61\u300d\uff08Tokenised Deposit Network\uff1a\u9280\u884c\u9593\u5171\u4eab\u7684\u5340\u584a\u93c8\u5f0f\u5b58\u6b3e\u8207\u652f\u4ed8\u7db2\u7d61\uff09\uff0c\u65e8\u5728<a href=\"https:\/\/www.coindesk.com\/markets\/2026\/06\/05\/jpmorgan-bank-of-america-and-citi-are-going-on-the-blockchain-offensive-with-a-shared-tokenized-network\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">\u628a\u5b58\u6b3e\u7559\u5728\u9280\u884c\u9ad4\u7cfb<\/a>\uff0c\u907f\u514d\u8cc7\u91d1\u6d41\u5411\u7a69\u5b9a\u5e63\u3002<\/p>\n\n\n\n<p>\u76ee\u6a19\u57282027\u5e74\u4e0a\u534a\u5e74\u63a8\u51fa\u3002<\/p>\n\n\n\n<p>\u6469\u6839\u5927\u901a\u8d70\u5f97\u66f4\u524d\u3002\u5176Kinexys\u5e73\u53f0\u81ea2020\u5e74\u8d77\u5df2\u8655\u7406\u6a5f\u69cb\u7d1a\uff08institutional\uff1a\u9762\u5411\u5927\u578b\u6a5f\u69cb\u6295\u8cc7\u8005\/\u4f01\u696d\u5ba2\u6236\uff09\u5340\u584a\u93c8\u652f\u4ed8\u3002\u8a72\u884c\u4ea6\u628a\u4e00\u7a2e\u5b58\u6b3e\u4ee3\u5e63<a href=\"https:\/\/www.blockhead.co\/2026\/06\/05\/jp-morgan-citi-us-banks-plan-shared-tokenized-deposit-network-for-2027\/\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">\u64f4\u5c55\u5230Base<\/a>\uff08Coinbase\u7684\u516c\u5171\u5340\u584a\u93c8\u7db2\u7d61\uff09\u3002<\/p>\n\n\n\n<p>\u9019\u7a2e\u5b89\u6392\u7f55\u898b\u4f46\u5177\u6307\u6a19\u6027\uff1a\u5927\u578b\u9280\u884c\u4e00\u65b9\u9762\u4f7f\u7528\u8207\u5927\u578b\u52a0\u5bc6\u4ea4\u6613\u6240\u76f8\u95dc\u7684\u57fa\u5efa\uff0c\u53e6\u4e00\u65b9\u9762\u53c8\u8981\u9632\u6b62\u5b58\u6b3e\u696d\u52d9\uff08deposit franchise\uff1a\u9280\u884c\u5438\u6536\u5b58\u6b3e\u7684\u6838\u5fc3\u512a\u52e2\u8207\u5ba2\u6e90\uff09\u88ab\u7a69\u5b9a\u5e63\u5206\u6d41\u3002<\/p>\n\n\n\n<p>\u82b1\u65d7\u4ea6\u8d70\u76f8\u8fd1\u8def\u7dda\uff0c\u63d0\u4f9b\u6a6b\u8de8\u7d10\u7d04\u3001\u502b\u6566\u53ca\u9999\u6e2f\u7684\u5373\u6642\u4ea4\u6536\uff08real-time settlement\uff1a\u4ea4\u6613\u5b8c\u6210\u5f8c\u5373\u6642\u5b8c\u6210\u8f49\u5e33\u53ca\u78ba\u8a8d\uff09\u670d\u52d9\u3002\u6280\u8853\u722d\u8b70\u6b63\u964d\u6eab\uff0c\u771f\u6b63\u4ecd\u5728\u722d\u7684\u662f\u300c\u8ab0\u63a7\u5236\u5ba2\u6236\u95dc\u4fc2\u300d\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u52a0\u5bc6\u516c\u53f8\u9760\u650f\u50b3\u7d71\u91d1\u878d<\/h3>\n\n\n\n<p>\u540c\u4e00\u7a2e\u300c\u878d\u5408\u300d\u4ea6\u7531\u53e6\u4e00\u908a\u767c\u751f\u3002<\/p>\n\n\n\n<p>\u6e23\u6253\u9280\u884c\u8fd1\u671f\u6210\u70ba<a href=\"https:\/\/www.circle.com\/pressroom\/standard-chartered-and-circle-launch-launch-first-g-sib-led-integrated-access-to-usdc-minting-and-redemption\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">\u9996\u5bb6\u7cfb\u7d71\u91cd\u8981\u6027\u5168\u7403\u9280\u884c\uff08G-SIB\uff1a\u4e00\u65e6\u51fa\u4e8b\u6703\u5f71\u97ff\u5168\u7403\u91d1\u878d\u7a69\u5b9a\u7684\u5927\u578b\u9280\u884c\uff09<\/a>\uff0c\u70ba\u6a5f\u69cb\u5ba2\u6236\u63d0\u4f9bUSDC\u76f4\u63a5\u300c\u9444\u9020\u8207\u8d16\u56de\u300d\uff08minting\/redemption\uff1a\u628a\u6cd5\u5e63\u63db\u6210\u7a69\u5b9a\u5e63\u3001\u6216\u628a\u7a69\u5b9a\u5e63\u63db\u56de\u6cd5\u5e63\u7684\u767c\u884c\u8207\u514c\u56de\u6d41\u7a0b\uff09\u3002\u670d\u52d9\u7531Circle\uff08USDC\u767c\u884c\u65b9\uff09\u5408\u4f5c\u958b\u767c\u3002<\/p>\n\n\n\n<p>\u9019\u4e0d\u53ea\u662f\u8c61\u5fb5\u52d5\u4f5c\uff0c\u800c\u662f\u628a\u4e3b\u8981\u7a69\u5b9a\u5e63\u7522\u54c1\u7d0d\u5165\u5168\u7403\u9280\u884c\u7684\u65e5\u5e38\u71df\u904b\u67b6\u69cb\u3002\u9280\u884c\u8207\u52a0\u5bc6\u516c\u53f8\u7684\u5206\u754c\u6108\u4f86\u6108\u4e0d\u6e05\u6670\uff1a\u9280\u884c\u63a1\u7528\u5340\u584a\u93c8\u4ea4\u6536\u3002<\/p>\n\n\n\n<p>\u52a0\u5bc6\u516c\u53f8\u9700\u8981\u9280\u884c\u63d0\u4f9b\u5206\u92b7\uff08distribution\uff1a\u628a\u7522\u54c1\u63a5\u89f8\u5230\u66f4\u591a\u5ba2\u6236\u7684\u6e20\u9053\uff09\u3001\u8a17\u7ba1\uff08custody\uff1a\u4ee3\u5ba2\u4fdd\u7ba1\u8cc7\u7522\uff09\u3001\u6d41\u52d5\u6027\uff08liquidity\uff1a\u53ef\u5feb\u901f\u8cb7\u8ce3\u514c\u63db\u7684\u80fd\u529b\uff09\u53ca\u76e3\u7ba1\u901a\u9053\u3002\u570b\u6703\u5617\u8a66\u756b\u51fa\u6e05\u6670\u754c\u7dda\u4e4b\u969b\uff0c\u696d\u754c\u537b\u6b63\u4ee4\u754c\u7dda\u66f4\u96e3\u8fa8\u8a8d\u3002<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>\u6cd5\u6848\u5ef6\u8aa4\u7684\u5be6\u969b\u4ee3\u50f9<\/strong><\/h2>\n\n\n\n<p>\u5617\u8a66\u5236\u5b9a\u898f\u5247\u7684\u4e0d\u6b62\u7f8e\u570b\u3002<\/p>\n\n\n\n<p>\u6b50\u76df\u300aMiCA\u300b\uff08\u52a0\u5bc6\u8cc7\u7522\u5e02\u5834\u76e3\u7ba1\u6846\u67b6\uff1a\u5efa\u7acb\u7d71\u4e00\u724c\u7167\u8207\u898f\u7ba1\u8981\u6c42\uff09\u5df2\u65bc7\u67081\u65e5<a href=\"https:\/\/www.euronews.com\/business\/2026\/06\/24\/europes-crypto-reset-mica-creates-a-single-market-as-hundreds-of-firms-face-exit\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">\u5168\u9762\u751f\u6548<\/a>\uff0c\u628a27\u500b\u6210\u54e1\u570b\u7684\u724c\u7167\u5236\u5ea6\u6574\u5408\u30022026\u5e74\u9999\u6e2f\u8207\u65b0\u52a0\u5761\u7684\u6b65\u4f10\u4ea6\u8f03\u83ef\u76db\u9813\u66f4\u5feb\u3002<\/p>\n\n\n\n<p>\u9019\u4e0d\u4ee3\u8868\u7f8e\u570b\u6703\u6c38\u4e45\u5931\u53bb\u6578\u78bc\u8cc7\u7522\u5730\u4f4d\uff1b\u5176\u8cc7\u672c\u5e02\u5834\u898f\u6a21\u4ecd\u7136\u9f90\u5927\u3002\u4f46\u300aCLARITY\u6cd5\u6848\u300b\u6bcf\u591a\u5361\u4e00\u500b\u6708\uff0c\u5176\u4ed6\u53f8\u6cd5\u7ba1\u8f44\u5340\uff08jurisdiction\uff1a\u4e0d\u540c\u5730\u5340\u7684\u76e3\u7ba1\u7bc4\u570d\uff09\u5c31\u591a\u4e00\u500b\u6708\u5438\u8d70\u6295\u8cc7\u3001\u724c\u7167\u7533\u8acb\u8207\u4eba\u624d\u3002\u724c\u7167\u6d3b\u52d5\uff08licensing activity\uff1a\u7533\u8acb\u53ca\u53d6\u5f97\u724c\u7167\u7684\u60c5\u6cc1\uff09\u4e00\u65e6\u8f49\u79fb\uff0c\u8cc7\u91d1\u5f80\u5f80\u96a8\u4e4b\u800c\u53bb\u3002<\/p>\n\n\n\n<p>\u66f4\u76f4\u63a5\u7684\u4ee3\u50f9\u662f\uff1a\u4f01\u696d\u901a\u5e38\u6703\u5728\u898f\u5247\u8db3\u5920\u6e05\u6670\u3001\u53ef\u4ee5\u505a\u898f\u5283\u7684\u5730\u65b9\u63a8\u51fa\u7522\u54c1\u3001\u7533\u9818\u724c\u7167\u3001\u914d\u7f6e\u8cc7\u672c\uff08allocate capital\uff1a\u628a\u8cc7\u91d1\u6295\u653e\u5230\u67d0\u4e9b\u696d\u52d9\/\u5730\u5340\uff09\u3002<\/p>\n\n\n\n<p>\u76e3\u7ba1\u4e0d\u78ba\u5b9a\u6027\u4e0d\u6703\u4ee4\u7814\u767c\u8207\u8cc7\u91d1\u6d41\u505c\u6b62\uff0c\u53ea\u6703\u6539\u8b8a\u5b83\u5011\u767c\u751f\u5728\u54ea\u88cf\u3002<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">\u6bd4\u7279\u5e63\u4e0b\u4e00\u6b65\u4e0d\u53ea\u53d6\u6c7a\u65bc\u83ef\u76db\u9813<\/h3>\n\n\n\n<p>\u7acb\u6cd5\u722d\u8ad6\u5f71\u97ff\u884c\u696d\u9577\u671f\u7d50\u69cb\uff0c\u4f46\u5c0d\u6bd4\u7279\u5e63\u77ed\u671f\u50f9\u683c\u672a\u5fc5\u6700\u95dc\u9375\u3002\u6bd4\u7279\u5e63\u8fd1\u671f\u53d7\u58d3\uff0c\u539f\u56e0\u591a\u5728\u53c3\u8b70\u9662\u4ee5\u5916\u3002<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Strategy\uff08\u8207\u4f01\u696d\u5927\u8209\u8cb7\u5165\u6bd4\u7279\u5e63\u6700\u76f8\u95dc\u7684\u516c\u53f8\uff09\u57287\u6708\u521d\u6cbd\u51fa\u7d042.16\u5104\u7f8e\u5143\u6bd4\u7279\u5e63\uff0c\u70ba<a href=\"https:\/\/www.vtmarkets.com\/opinion\/mstr-where-bitcoin-meets-leverage\/?utm_source=Opinion&amp;utm_content=BankBitcoinClarity\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">\u5e02\u5834\u7dca\u76ef\u5176\u8cc7\u7522\u8ca0\u50b5\u8868<\/a>\u7684\u7126\u9ede\u3002\u9019\u662f\u8a72\u516c\u53f8<a href=\"https:\/\/fortune.com\/2026\/07\/06\/michael-saylor-strategy-216-million-bitcoin-sale-largest-ever\/\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">\u6b77\u4f86\u6700\u5927\u4e00\u6b21\u51fa\u552e<\/a>\uff0c\u4e26\u767c\u751f\u5728\u9304\u5f97125\u5104\u7f8e\u5143\u6e1b\u503c\uff08writedown\uff1a\u8cc7\u7522\u5e33\u9762\u50f9\u503c\u4e0b\u8abf\uff09\u53ca\u512a\u5148\u80a1\u80a1\u606f\uff08preferred-dividend\uff1a\u512a\u5148\u80a1\u9700\u652f\u4ed8\u7684\u56fa\u5b9a\u5206\u6d3e\uff09\u8ca0\u64d4\u4e0a\u5347\u4e4b\u5f8c\u3002<br><\/li>\n\n\n\n<li>\u73fe\u8ca8\u6bd4\u7279\u5e63ETF\uff08spot Bitcoin ETFs\uff1a\u4ee5\u73fe\u8ca8\u6bd4\u7279\u5e63\u4f5c\u8cc7\u7522\u652f\u6301\u3001\u5728\u4ea4\u6613\u6240\u8cb7\u8ce3\u7684\u57fa\u91d1\uff09\u6b64\u524d\u9023\u7e8c\u516b\u5468\u9304\u5f97\u6de8\u6d41\u51fa\uff08net outflows\uff1a\u8cc7\u91d1\u6d41\u51fa\u591a\u65bc\u6d41\u5165\uff09\uff0c\u4e4b\u5f8c\u90e8\u5206\u9006\u8f49\u3002\u4e09\u500b\u4ea4\u6613\u65e5\u5408\u5171\u56de\u6d41\u7d04<a href=\"https:\/\/www.techtimes.com\/articles\/319974\/20260709\/bitcoin-etf-inflows-hit-510m-over-3-days-when-blackrock-leads-bitcoin-follows.htm\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">5.1\u5104\u7f8e\u5143<\/a>\uff0c\u7531\u8c9d\u840a\u5fb7IBIT\u5e36\u52d5\u3002<br><\/li>\n\n\n\n<li>\u7f8e\u806f\u5132\u4ea6\u662f\u77ed\u671f\u95dc\u9375\u56e0\u7d20\u3002\u4e0b\u4e00\u6b21\u8b70\u606f\u6703\u8b70\uff08FOMC\uff1a\u806f\u90a6\u516c\u958b\u5e02\u5834\u59d4\u54e1\u6703\u6703\u8b70\uff09<a href=\"https:\/\/www.kucoin.com\/news\/flash\/fed-s-next-fomc-meeting-scheduled-for-july-28-29-2026\" target=\"_blank\" rel=\"noopener nofollow\" title=\"\">\u5b9a\u65bc7\u670828\u65e5\u81f329\u65e5<\/a>\uff1b\u6b64\u524d\u9023\u7e8c\u56db\u6b21\u6703\u8b70\u628a\u5229\u7387\u7dad\u6301\u57283.5%\u81f33.75%\u3002<\/li>\n<\/ul>\n\n\n\n<p>\u5982\u9700\u67e5\u770b\u5373\u5c07\u516c\u5e03\u7684\u7d93\u6fdf\u4e8b\u4ef6\uff0c\u53ef\u53c3\u8003\u6211\u5011\u7684<a href=\"https:\/\/www.vtmarkets.com\/economic-calendar\/?utm_source=Opinion&amp;utm_content=BankBitcoinClarity\" target=\"_blank\" rel=\"noopener\" title=\"\">\u7d93\u6fdf\u65e5\u66c6<\/a>\u3002<\/p>\n\n\n\n<h2 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